Ministry of Textiles revises the guidelines of ATUFS

Aug 26, 2019 | by Avantis RegTech Legal Research Team

Industry Specific Compliance

The Ministry of Textiles on August 06, 2019, has revised the guidelines of Amended Technology Upgradation Fund Scheme (ATUFS) that is financial and operational parameters and implementation mechanism during its implementation period from January 13, 2016 to March 31, 2022, which was notified, vide Revised Resolution No. 6/5/2015-TUFS dated August 02, 2018.

The following modifications are hereby notified in the said Revised Resolution with the approval of Competent Authority:

 The Embroidery including Standalone Embroidery activity is inserted in Para 2.6 and 4.1.

 Textiles Commissioner has been authorized to approve the indicative list of machinery manufacturer and listing in the website subsequently. The list so uploaded will be ratified in subsequent meeting of TAMC.

 The request for JIT will be entertained if the machinery meets the technology specification but the manufacturer is not included in the indicative list. In such case, alert will be generated for the Textile Commissioner office to examine the eligibility of machinery to get included in the list and get it enlisted or rejected by the Textile Commissioner which will then be ratified by TAMC. This exercise should get completed within 45 days.

 Installation and commissioning of the machinery covered under UID shall be dome within one year from the date of sanction of loan. Extension upto one year beyond the initial prescribed period of one year may be permitted only on production of documentary proof.

[Order No. No.6/5/2015-TUFS]


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